02/10/21 Update: Bioventus announced the pricing of its initial public offering of 8 million shares at a price of $13.00 per share. The company expects gross proceeds of $104 million, or $119.6 million should the underwriters exercise their option to purchase additional shares in full. The offering is expected to close on February 16, 2021.
Bioventus announced its second IPO try today with an initial public offering of its Class A common stock targeting $100 million in proceeds. The company offered 7.35 million shares at an expected price between $16 and $18 per share, and will trade on the NASDAQ under the symbol BVS.
This is Bioventus’ second attempt at an IPO after the company registered for a $150 million initial public offering in July 2016, only to postpone it a few months later.
Today’s announcement comes with Bioventus in a stronger financial position compared to 2016, despite the effects of the pandemic. The company reported $222.6 million in revenue for the first nine months of 2020, -8.3% compared to the prior year. Despite this decline, Bioventus outperformed the overall orthobiologics market, where we projected 2020 declines in the low to mid teens. Additionally, the company reported net earnings of $12.5 million through September 2020.
2/10/21 Update: Bioventus announced the pricing of its initial public offering of 8 million shares at a price of $13.00 per share. The company expects gross proceeds of $104 million, or $119.6 million should the underwriters exercise their option to purchase additional shares in full. The offering is expected to close on February 16,...
02/10/21 Update: Bioventus announced the pricing of its initial public offering of 8 million shares at a price of $13.00 per share. The company expects gross proceeds of $104 million, or $119.6 million should the underwriters exercise their option to purchase additional shares in full. The offering is expected to close on February 16, 2021.
Bioventus announced its second IPO try today with an initial public offering of its Class A common stock targeting $100 million in proceeds. The company offered 7.35 million shares at an expected price between $16 and $18 per share, and will trade on the NASDAQ under the symbol BVS.
This is Bioventus’ second attempt at an IPO after the company registered for a $150 million initial public offering in July 2016, only to postpone it a few months later.
Today’s announcement comes with Bioventus in a stronger financial position compared to 2016, despite the effects of the pandemic. The company reported $222.6 million in revenue for the first nine months of 2020, -8.3% compared to the prior year. Despite this decline, Bioventus outperformed the overall orthobiologics market, where we projected 2020 declines in the low to mid teens. Additionally, the company reported net earnings of $12.5 million through September 2020.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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